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(Z9) Consolidates *RES 3:......>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (Z9) Consolidates
*RES 3: 98.9200 - High Nov 1
*RES 2: 98.8094/8100 - Channel top drawn off Oct 9 high / Low Oct 22
*RES 1: 98.7950 - High Nov 7
*PRICE: 98.7200 @ 19:11 GMT, Nov 12
*SUP 1: 98.6500 - Low Nov 8
*SUP 2: 98.6100 - 1.000 projection of Oct 8 - Oct 22 decline from Oct 25 high
*SUP 3: 98.5859 - Bear channel base drawn off Oct 9 high
Aussie 10yr futures are consolidating above last weeks low of 98.6500. The
outlook remains bearish following recent weakness. The result of the move lower
last week was a breach of key support at 98.7675, Sep 16 low. This marked an
important bearish break and reinforces the clear bearish price sequence of lower
lows and lower highs that defines the current downtrend. Attention is on 98.5859
next, the base of a bear channel drawn off the Oct 9 high. Resistance is located
at 98.7950, Nov 7 high.

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